Summary
- Bitmine bought another 9,926 ETH last week, bringing its holdings to 5.815 million ETH worth about $11 billion.
- The Tom Lee-led company now owns about 4.8% of Ethereum’s total supply, nearing its stated goal of 5%.
- Lee anticipates tokenization, AI-agent applications and easing financial conditions to support demand for Ethereum and the broader crypto market.
Ethereum treasury company Bitmine Immersion added more of the token to its balance sheet, bringing its total holdings up to 5.815 million tokens.
In an announcement Monday, the company led by Chairman Tom Lee stated it bought another 9,926 ETH last week, continuing its streak of weekly buys that began in June 2025 when the company introduced.
Bitmine, which trades under the ticker BMNR, now holds 4.8% of ETH’s total supply with its tokens worth about $11 billion at the current price of $1,904.
Lee stated the ETH/BTC ratio has broken above a years-long downward trend, which he sees as a sign that investors are starting to price in growing demand for Ethereum from tokenization and AI-agent applications.
On the macro front, he anticipates “easing financial conditions to be a tailwind for crypto,” he stated in a statement.
ETH is up about 1.6% over the past 24 hours while BMNR is trading more than 2% higher today.
The company also bought an additional 1.7 million shares of its own stock last week, now owning 20.8 million shares under a previously authorized $4 billion buyback program.
